Insurer Zurich welcomed the regulator's pledge to re-open the long-stop debate but suggested it should be looking at more options than just a 15-year liability period.
Zurich principal of government and industry affairs Matt Connell (pictured) said the Financial Conduct Authority's (FCA) pledge in its latest business plan that it would consult on a 'long-stop' for advice liability for all advisers was "encouraging" as it was a "tangible step forward". The FCA said in March it would consult on the re-introduction of a 15-year long-stop on complaints against financial services firms. Its decision came six years after its predecessor ruled it out, saying at the time the potential detriment to consumers of a long stop would outweigh the benefits of havi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
